AIMZ Investment Advisors LLC Reduces Stock Position in Proto Labs, Inc. (NYSE:PRLB)

AIMZ Investment Advisors LLC decreased its stake in shares of Proto Labs, Inc. (NYSE:PRLB) by 8.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 42,323 shares of the industrial products company’s stock after selling 3,900 shares during the period. AIMZ Investment Advisors LLC’s holdings in Proto Labs were worth $1,654,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Versor Investments LP purchased a new stake in shares of Proto Labs in the fourth quarter worth $235,000. ARK Investment Management LLC grew its holdings in shares of Proto Labs by 3.8% during the fourth quarter. ARK Investment Management LLC now owns 128,511 shares of the industrial products company’s stock worth $5,023,000 after purchasing an additional 4,750 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in Proto Labs in the fourth quarter valued at approximately $5,972,000. Principal Financial Group Inc. lifted its position in Proto Labs by 0.3% during the fourth quarter. Principal Financial Group Inc. now owns 118,889 shares of the industrial products company’s stock valued at $4,647,000 after purchasing an additional 299 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Proto Labs by 0.4% in the 4th quarter. Rhumbline Advisers now owns 78,783 shares of the industrial products company’s stock worth $3,080,000 after buying an additional 303 shares in the last quarter. 84.54% of the stock is currently owned by institutional investors.

Proto Labs Stock Down 1.9 %

NYSE:PRLB opened at $39.41 on Friday. The firm has a market capitalization of $955.00 million, a P/E ratio of 60.63 and a beta of 1.45. Proto Labs, Inc. has a 52 week low of $25.75 and a 52 week high of $46.73. The company has a fifty day moving average of $40.56 and a 200 day moving average of $35.79.

Proto Labs announced that its board has initiated a stock buyback program on Friday, February 7th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 9.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Craig Hallum increased their target price on Proto Labs from $30.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, November 4th. Cantor Fitzgerald boosted their price target on shares of Proto Labs from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Proto Labs in a research note on Friday, February 7th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.67.

Proto Labs Profile

Proto Labs, Inc, together with its subsidiaries, operates as a digital manufacturer of custom parts in the United States and Europe. The company offers injection molding; computer numerical control machining; three-dimensional printing; and sheet metal fabrication products. It serves developers and engineers, who use 3D computer-aided design software to design products across a range of end-markets.